When Ignorance is Bliss

The proper version of “ignorance is bliss” is actually “WHEN ignorance is bliss,” and it should be followed by “’tis folly to be wise.” That’s the short version of public choice economics, which points out that your vote counts for very little, and consequently justifies very little investment in making a quality vote. They . . . → Read More: When Ignorance is Bliss

Skilled Immigration and Innovation

A recent paper by Jennifer Hunt (link) finds that the increase in foreign-born graduates strongly contributes to the innovation in the United States:

“In this paper I have demonstrated the important boost to innovation per capita provided by skilled immigration to the United States in 1950-2000. A calculation of the effect of immigration in . . . → Read More: Skilled Immigration and Innovation

Geniuses and Economic Development

On VoxEU, there is a fascinating article titled China and India: Those two big outliers by Jesus Felipe, Utsav Kumar and Arnelyn Abdon.

The interesting fact that they highlight is that both India and China are wise beyond their per capita GDP when it comes to the sophistication and diversification of their exports.

The . . . → Read More: Geniuses and Economic Development

Economic Events on September 14, 2010

At 7:45 AM EDT, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:30 AM EDT, the Retail Sales report for August will be released.  The consensus is that retail sales increased 0.3% from July, after a 0.4 . . . → Read More: Economic Events on September 14, 2010